Divorce rates fall in line with house prices

The number of couples getting divorced has dropped to the lowest rate for 26 years as the credit crunch begins to bite, according to official figures issued recently. Figures compiled by the Office for National Statistics (ONS) for 2007 showed divorces in England and Wales fell for the third year in a row. Falling house prices may be putting pressure on couples to stay together, for fear of less equity in their property to share after separation. Analysis of property market fluctuations and divorce rates traditionally shows a strong correlation between house prices and the number of divorces in England and Wales. A peak in the rates of house price growth over the last decade has been followed by an increased number of divorces, and vice-versa. Interestingly though, although the overall divorce rate is falling, the number of over 60’s getting divorced increased from 12,636 in 2006 to 13,678 in 2007. This was the only age group where the divorce rate rose among men and women alike. If you’d like more information about divorce or separation, please contact Alistair Dobson in confidence on 01858 445 480.